ACCOUNTING AS A TOOL FOR ECONOMIC PROTECTION OF BUSINESS

Abstract

In the modern world, organizations are increasingly facing a large number of economic threats that can lie in wait both from the external environment (unstable economic situation in the country, unfair competition, changes at the legislative level) and from the internal environment (ineffective management, violation of internal audit and control, fraud). Economic security is an integral part of any organization. It protects against various economic risks and threats. This protection is largely provided by accounting. In this context, it is not only an informative source about the financial condition of the organization, but also a tool for preventing and identifying threats to economic security. Subject: the relationship of accounting with the economic security of the organization. Objective: To determine the practical role of accounting in ensuring the economic security of an organization in modern conditions. Result: In the study, we conducted a study of the essence of the concept of "economic security", and presented it in the form of a relationship of five components. The economic security of an organization is inextricably linked with accounting, therefore, after analyzing various sources, we propose to identify several unresolved problems in the role of accounting in the context of the economic security of an organization, which are presented with a description and a possible way to solve it. We believe it is necessary to identify the factors that must be taken into account when developing a financial security strategy for any organization. They were shown in the model of information and analytical support for the management of economic security of an economic entity. An important issue in connection with the dynamic development of information technology and an increase in the level of financial risks is the introduction of innovative methods and analysis tools to improve economic security. Assessing the level of economic security of an organization requires the use of quantitative indicators that will help identify the symptoms of possible threats. We propose to introduce such indicators as indicators of financial health and assessment of bankruptcy risk, assessment of the effectiveness of internal control, an indicator for assessing the vulnerability of an organization to fraud, cyber threats and unfair competition. Each indicator has been described and presented within the framework of this scientific study.